Bitcoin Outflows Test Investor Nerves as Franklin’s EZBC Bleeds Nearly 2% of Assets
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The Franklin Bitcoin ETF, EZBC, saw notable redemptions on January 21, 2026, with investors pulling out $10.36 million in a single day. The move represents roughly 1.94% of the fund’s $533.76 million in assets under management, a meaningful shakeup that underscores how sensitive bitcoin-focused products remain to short-term sentiment swings.
The latest outflow comes as the ETF’s underlying asset, BTC-USD, trades around $87,786.01 after a difficult quarter. Bitcoin has shed about 22.11% over the past three months, a retreat that has eroded some of the enthusiasm that followed previous rallies and left leveraged and late-cycle buyers particularly exposed.
Technically, the market tone around BTC has also soured. Short-term indicators are flashing a cautious stance, with the 1-day signal currently at Sell, suggesting that momentum, at least for now, is skewed toward further downside or consolidation rather than an immediate rebound. For ETF investors, that weak technical backdrop may be reinforcing the case for de-risking after a sustained drawdown.
Still, with over half a billion dollars in AUM, EZBC remains a significant vehicle for institutional and retail exposure to bitcoin, and a 2% single-day flow—while sizable—is not yet indicative of a wholesale exodus. Instead, it highlights how tactical and responsive capital has become in the crypto ETF space, where flows can accelerate quickly in either direction as macro signals, regulatory headlines, and bitcoin’s own volatility shift the narrative.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.